March 14, 2008 / 9:13 AM / 11 years ago

UPDATE 2-Deals of the day -- mergers and acquisitions

(Adds HCP Inc, TGK-2, TGC-10, Inspired Gaming and others)

March 14 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 1330 GMT on Friday. (For Reuters columns on deals, click on [DEALTALK/])

** Russian steel makers Evraz Group HK1q.L and TMK (TRMKq.L) agreed on Friday to pay a combined $4.025 billion to acquire IPSCO’s North American plate and pipe businesses from Swedish steel firm SSAB (SSABa.ST).

To read more, please double click on [nL14651581]

** China’s Ping An Insurance (2318.HK) is in the final stage of talks to buy a major stake in the asset management arm of Belgian-Dutch financial group Fortis FOR.BR, two sources with direct knowledge of the situation said. [nSHA304254]

** Finnish insurer Sampo SAMAS.HE said its P&C subsidiary If had agreed to buy Russian insurer SOAO Region. [nL14605094]

** Sichuan Airlines, a medium-sized Chinese carrier, is in talks with Taiwan’s TransAsia Airways to set up a joint venture airline, a Sichuan Airlines spokeswoman said. [nSHA217085]

** Saudi Aramco is selling its 40 percent stake in the Philippines’ top refiner Petron Corp (PCOR.PS) to London-based investment fund Ashmore Group (ASHM.L) for $550 million, Petron officials said. [nMAN79367]

** A Canadian pension fund won shareholders’ approval for a $1.5 billion bid for 40 percent of New Zealand’s Auckland International Airport Ltd (AIA.NZ) but still faces the tougher hurdle of getting government clearance. [nWEL66425]

** Chinese commodities trader Sinosteel Corp launched a A$954 million ($902 million) hostile bid for Australian iron ore prospector Midwest Corp MIS.AX, as it seeks to lock up scarce ore supplies. [nSYD65577]

** Mexican conglomerate Grupo Carso said it was selling its Nacobre unit’s PVC, copper and aluminium business to two Mexican companies. [nN13354366]

** China’s Huaneng Power (0902.HK) has emerged as the top bidder to buy electricity generator Tuas Power, which is being sold by Singapore state investor Temasek Holdings [TEM.UL], but a final contract has yet to be signed, two sources told Reuters. [nSP78727]

** The U.S. Federal Reserve said it approved Toronto-Dominion Bank’s (TD.TO) proposed acquisition of Commerce Bancorp Inc (CBH.N), allowing the Canadian company greater access to U.S. retail banking. [nN13344260]

** Electronic Arts Inc ERTS.O launched a hostile offer for rival video game maker Take-Two Interactive Software Inc (TTWO.O) at $26 a share, taking the $2 billion bid directly to stockholders. [nN12258281]

** Specialty pharmacy operator Allion Healthcare Inc. ALLI.O said it agreed to buy Biomed America Inc for about $99.4 million in cash and stock, to expand its target markets. [nBNG317660]

** Medical Properties Trust Inc (MPW.N) said it agreed to buy a portfolio of up to 21 healthcare facilities across 15 states from HCP Inc (HCP.N) for about $371 million, increasing the number of properties in its portfolio by 75 percent. [nBNG130607]

** German energy firm RWE (RWEG.DE) has acquired effective control of Russian power producer TGK-2 (TGKB.MM) jointly with Russian partner Sintez Group, a source close to the sale told Reuters. [nL14920403]

** Finnish utility Fortum FUM1V.HE said its stake in Russian power utility TGC-10 TGKJ.MM has risen to around 76 percent after it subscribed for new shares in a share issue. [nL1419179]

** Russia’s Gazprom (GAZP.MM) has decided not to bid in a tender for Ankara’s gas distribution network, the head of Gazprom’s Turkish joint venture, Bosphorus Gaz, told Reuters. [nL14725825]

** Spanish Gas Natural GAS.MC was among bidders in a tender for Ankara’s natural gas distribution network, a tender official told Reuters. [nIST001741]

** Slot machine maker Inspired Gaming INGG.L put its pub machine division up for sale, saying the smoking ban was continuing to choke the unit’s profits. [nL1411016]

** Bharat Heavy Electricals Ltd (BHEL.BO) will acquire Vizag-based Bharat Heavy Plate and Vessels by the first half of 2008/09, its chairman and managing director said. [nDEL001226] [nDEL312568]

** Tata Teleservices Ltd, India’s fifth-largest mobile operator, is in talks to sell up to 49 percent of its telecoms tower unit, its managing director said. [nDEL71993]

** Fasttrack Impex and Arrow Webtex ARWB.BO said they have raised the open offer price for a 20 percent stake in Advani Hotels & Resorts Ltd (ADHO.BO) by a rupee to 103 rupees a share. [nBOM168186] (Compiled by Manish Gupta in Bangalore)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below